US TCW eyes Italian opportunities
US manager TCW recently entered the Italian market by listing six funds on Borsa Italiana, with an eye to demand for fixed income.
TCW is a US based independent global asset management firm with more than four decades of investment experience, and over $180bn (€165bn) in assets under management.
With an expertise in active management, its products range across fixed income, equities, emerging markets and alternatives through both institutional mandates and mutual funds.
The company is co-owned by US private equity specialist The Carlyle Group (60%) and TCW management and employees (40%). Its business footprint is, however, global.
“Although a significant portion of our business is within the US market, we have a long and well-established presence in Europe and in Asia and we continue to expand our global distribution capabilities. For example, last October we opened an office in Tokyo,” says Stanislas Debreu (pictured), head of International Marketing.
In Europe, TCW’s attention focused on the Italian market, where it decided to list six funds described as ‘flagship’ products.
For each fund two share classes were listed on Borsa Italiana: one in euro and the other hedged on the euro/dollar cross.
Three of the funds are focused on US fixed income, using total return or unconstrained strategies (TCW Total Return Bond Fund; MetWest Total Return Bond Fund; MetWest Uncostrained Bond Fund).
Two funds are focused on emerging markets fixed income (TCW Emerging Markets Income Fund; TCW Emerging Markets Local Currency Income Fund).
The sixth is a US equity multi-income fund (TCW Multi-Income US Equities Fund). The TER of these funds oscillates from a minimum of 0.55% to a maximum of 1%.
Historically, TCW has attracted institutional investors, corporate and public pension plans, financial, endowments and foundations, as well as – in particular in the USA – financial advisers and high net worth individuals.